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Matthews International Increases Quarterly Dividend

PITTSBURGH, Nov. 20, 2024 (GLOBE NEWSWIRE) -- (NASDAQ GSM: MATW) announced that its Board of Directors declared, at its regularly scheduled meeting today, a dividend of $0.25 per share on the Company鈥檚 common stock, representing an increase to the Company鈥檚 quarterly dividend rate.

Joseph C. Bartolacci, President and Chief Executive Officer, stated: 鈥淐onsistent with our long-term practice, we are pleased to announce another annual increase in our dividend for fiscal 2025. This reflects our ongoing confidence in the Company鈥檚 cash generation and long-term growth strategies.鈥� This represents the 31^st consecutive annual dividend increase since becoming a publicly-traded company.

The dividend is payable December 16, 2024 to stockholders of record December 2, 2024.

About Matthews International Corporation

Matthews International Corporation is a global provider of memorialization products, industrial technologies, and brand solutions. The Memorialization segment is a leading provider of memorialization products, including memorials, caskets, cremation-related products, and cremation and incineration equipment, primarily to cemetery and funeral home customers that help families move from grief to remembrance. The Industrial Technologies segment includes the design, manufacturing, service and sales of high-tech custom energy storage solutions; product identification and warehouse automation technologies and solutions, including order fulfillment systems for identifying, tracking, picking and conveying consumer and industrial products; and coating and converting lines for the packaging, pharma, foil, d茅cor and tissue industries. The SGK Brand Solutions segment is a leading provider of packaging solutions and brand experiences, helping companies simplify their marketing, amplify their brands and provide value. The Company has 11,000 employees in more than 30 countries on six continents that are committed to delivering the highest quality products and services.

Forward-looking Information

Any forward-looking statements contained in this release are included pursuant to the 鈥渟afe harbor鈥� provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the expectations, hopes, beliefs, intentions or strategies of the Company regarding the future, and may be identified by the use of words such as 鈥渆xpects,鈥� 鈥渂elieves,鈥� 鈥渋ntends,鈥� 鈥減rojects,鈥� 鈥渁nticipates,鈥� 鈥渆stimates,鈥� 鈥減lans,鈥� 鈥渟eeks,鈥� 鈥渇orecasts,鈥� 鈥減redicts,鈥� 鈥渙bjective,鈥� 鈥渢argets,鈥� 鈥減otential,鈥� 鈥渙utlook,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渃ould鈥� or the negative of these terms, other comparable terminology and variations thereof. Such forward-looking statements involve known and unknown risks and uncertainties that may cause the Company鈥檚 actual results in future periods to be materially different from management鈥檚 expectations, and no assurance can be given that such expectations will prove correct. Factors that could cause the Company's results to differ materially from the results discussed in such forward-looking statements principally include changes in domestic or international economic conditions, changes in foreign currency exchange rates, changes in interest rates, changes in the cost of materials used in the manufacture of the Company's products, any impairment of goodwill or intangible assets, environmental liability and limitations on the Company鈥檚 operations due to environmental laws and regulations, disruptions to certain services, such as telecommunications, network server maintenance, cloud computing or transaction processing services, provided to the Company by third-parties, changes in mortality and cremation rates, changes in product demand or pricing as a result of consolidation in the industries in which the Company operates, or other factors such as supply chain disruptions, labor shortages or labor cost increases, changes in product demand or pricing as a result of domestic or international competitive pressures, ability to achieve cost-reduction objectives, unknown risks in connection with the Company's acquisitions and divestitures, cybersecurity concerns and costs arising with management of cybersecurity threats, effectiveness of the Company's internal controls, compliance with domestic and foreign laws and regulations, technological factors beyond the Company's control, impact of pandemics or similar outbreaks, or other disruptions to our industries, customers, or supply chains, the impact of global conflicts, such as the current war between Russia and Ukraine, the outcome of the Company's dispute with Tesla, Inc., and other factors described in the Company鈥檚 Annual Report on Form 10-K and other periodic filings with the U.S. Securities and Exchange Commission.